Autonomix Medical, Inc. Completes $8,000,000 Transaction for Exclusive Worldwide Rights to Technology for Cardiology Field Use – Over 100 patents in portfolio
- None.
- None.
Insights
The re-acquisition of exclusive worldwide rights by Autonomix Medical, Inc. for its technology in cardiology marks a strategic shift that could potentially open up new revenue streams and partnerships for the company. From a financial perspective, the termination agreement involving a warrant issuance is a non-dilutive financing instrument, which is favorable for existing shareholders since it minimizes equity dilution. However, the exercise price of $0.001 is significantly lower than the offering price, which could lead to future dilution upon exercise. The lockup period for the shares ensures stability in the short term, but investors should be aware of the potential market impact when these shares become tradable.
Given the company's focus on its pancreatic cancer pain program and the upcoming first-in-human clinical study, the expansion into the cardiology space may signal confidence in their technology's applicability across different medical fields. This could potentially increase the company's market valuation if the technology proves to be effective. Investors should consider the research and development costs associated with the expansion into new areas, which can affect short-term profitability but may be justified by long-term growth prospects.
Autonomix's catheter-based sensing technology represents a significant innovation in the field of medical devices, particularly for diseases involving the nervous system. The ability to sense neural signals and target nerves precisely could lead to improved patient outcomes, especially in conditions where current treatments are inadequate or have severe side effects. The technology's potential to reduce reliance on systemic drugs like opioids is notable, considering the ongoing opioid crisis and the demand for safer, more effective pain management solutions.
The re-acquisition of cardiology rights suggests that the company anticipates substantial clinical and commercial potential in this area. The upcoming first-in-human clinical study for pancreatic cancer pain is a critical milestone that will provide insights into the technology's efficacy and safety. Positive data from this study could have a profound impact on the company's development strategy and market positioning. Stakeholders should monitor the progress of this study closely as it will likely influence investor confidence and the company's future funding requirements.
Regaining full control over the cardiology application of its technology allows Autonomix to directly influence the direction and pace of development in this field. The decision to re-acquire these rights could be seen as a response to market demands or emerging trends in the treatment of cardiovascular diseases. The medical device market for cardiology is highly competitive but also ripe with opportunities due to the global burden of cardiovascular diseases.
It is important to assess the competitive landscape and the company's ability to penetrate the market with its innovative technology. If the technology proves successful in clinical trials, Autonomix could capture a significant share of the market. However, entry into the market requires substantial investment in clinical trials, regulatory approval processes and marketing. The company's strategic decisions and progress in the coming months will be crucial in determining its competitive edge and potential for market disruption.
Autonomix now wholly owns development and commercialization rights to its technology in all indications
Re-acquisition broadens Autonomix’s development and strategic opportunities
THE WOODLANDS, TX, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Autonomix Medical, Inc. (NASDAQ: AMIX) (“Autonomix” or the “Company”) a medical device company focused on advancing innovative technologies to revolutionize how diseases involving the nervous system are diagnosed and treated, today announced that it has regained exclusive worldwide rights to its technology for cardiology field use from Impulse Medical, Inc.
In December 2021, Autonomix granted Impulse Medical, Inc., a license to its technology for use in the field of cardiology. In July 2023, the Company entered into a termination agreement for the license agreement in exchange for the issuance, upon the closing of its initial public offering, of a warrant to purchase the number of shares of common stock based upon a fixed value of
“We have made significant progress over the course of the past year. With the recent closing of our IPO and listing onto Nasdaq as well as the progress we’ve made on the preclinical development front, we continue to build momentum. Regaining the cardiology rights to our innovative technology broadens our development opportunities and provides further optionality related to our development strategy moving forward. Looking ahead, we remain focused on our pancreatic cancer pain development program and are on track to commence our first-in-human clinical study this quarter,” commented Lori Bisson, Chief Executive Officer of Autonomix.
The Company’s catheter-based sensing technology is being developed to do two things: sense neural signals associated with pain or disease and precisely target those nerves for treatment. Autonomix believes this technology is a better alternative to the current approaches commonly used today, where doctors either rely on systemic drugs like opioids that lose effectiveness and have unwanted side effects or treat suspected areas blindly in hopes of hitting the right nerves, an approach that is often inaccurate and can miss the target and even cause collateral damage to surrounding parts of the body.
For more information about the Company’s technology, please visit autonomix.com.
About Autonomix Medical, Inc.
Autonomix is a medical device company focused on advancing innovative technologies to revolutionize how diseases involving the nervous system are diagnosed and treated. The Company’s first-in-class technology platform includes a catheter-based microchip sensing array that has the ability to detect and differentiate neural signals with approximately 3,000 times greater sensitivity than currently available technologies. We believe this will enable, for the first time ever, transvascular diagnosis and treatment of diseases involving the peripheral nervous system virtually anywhere in the body.
We are initially developing our technology for pancreatic cancer pain, a condition that can cause debilitating pain and need an effective solution. However, our technology constitutes a platform with the potential to address dozens of indications, including in cardiology, renal denervation and chronic pain management across a wide disease spectrum.
For more information, visit autonomix.com and connect with the Company on X, LinkedIn Instagram and Facebook.
Forward Looking Statements
Some of the statements in this release are “forward-looking statements,” which involve risks and uncertainties. Such forward-looking statements can be identified by the use of words such as ‘’should,‘’ ‘’may,‘’ ‘’intends,‘’ ‘’anticipates,‘’ ‘’believes,‘’ ‘’estimates,‘’ ‘’projects,‘’ ‘’forecasts,‘’ ‘’expects,‘’ ‘’plans,‘’ and ‘’proposes.‘’
Although Autonomix Medical, Inc. (or Autonomix) believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” and elsewhere in the final offering statement filed with the U.S. Securities and Exchange Commission (“SEC”) on January 26, 2024. Forward-looking statements speak only as of the date of the document in which they are contained and Autonomix does not undertake any duty to update any forward-looking statements except as may be required by law.
Investor and Media Contact
JTC Team, LLC
Jenene Thomas
833-475-8247
autonomix@jtcir.com
FAQ
What is the ticker symbol for Autonomix Medical, Inc.?
What technology did Autonomix re-acquire rights to?
What progress has Autonomix made recently?
What is Autonomix's focus moving forward?
